Malaysia's Proton Q1 profit slumps 45 pct

Newswire

KUALA LUMPUR, Aug 29 (Reuters) - Perusahaan Otomobil Nasional Bhd (Proton), Malaysia's leading car maker, reported on Friday a 45 percent drop in first quarter earnings and warned of continuing tough times ahead. Net profit fell to 158.1 million ringgit ($41.6 million) in the three months that ended June 30 from 289.6 million ringgit in the same period a year earlier. Proton attributed the lower profit to a 30 percent drop in sales to 1.9 billion ringgit. "Consumer sentiment is ...

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